SYDNEY, Dec. 18 -- Australian Prudential Regulation Authority issued the following media release:
The Australian Prudential Regulation Authority (APRA) has imposed additional licence conditions on Equity Trustees Superannuation Limited (ETSL) to address prudential concerns relating to its investment governance frameworks and practices, including oversight of platform investment options made available to members.
ETSL acts as trustee for 11 registrable superannuation entities (RSEs) and has approximately 649,000 member accounts and over $37 billion in funds under management.
The additional licence conditions follow APRA's recent thematic review of the investment governance, strategic planning and member outcomes practices of superannuatio...